Samsung Electronics Co. has successfully developed its second-generation 10-nanometer (nm) FinFET process technology that yields high performance with low power consumption.

The world’s biggest chipmaker announced on Thursday that it completed development of its second-generation 10-nm FinFET process, 10 Low Power Plus (10LPP), that is ready for production. The technology boasts 10 percent higher performance while consuming 15 percent less power than its first-generation technology 10 Low-Power Early (10LPE). Samsung Electronics was the first company in the industry to mass produce chips built on 10-nm FinFET process in October last year.

The technology has been applied to some premium mobile application processors (AP) such as Samsung Electronics’ Exynos 9 and Qualcomm’s Snapdragon 835. Samsung Electronics’ latest flagship Galaxy S8 is also equipped with Exynos 9.

Samsung Electronics expects the newly-developed chipmaking technology would help it diversify its customer base in the semiconductor foundry market. The company plans to expand applications of the technology to computing, wearable devices, Internet of Things (IoT) and network.

In order to prepare for demand growth for the 10-nm process technology, it will expand its production facility at S3-line in Hwaseong, Gyeonggi Province, by the fourth quarter of this year.